Retirement plan

WESTCO F.G. CORP. PROFIT SHARING 401(K) PLAN

Name: WESTCO F.G. CORP. - WESTCO F.G. CORP. PROFIT SHARING 401(K) PLAN (2020) Form 5500
Creator: WESTCO F.G. CORP.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTCO F.G. CORP. PROFIT SHARING 401(K) PLAN, WESTCO F.G. CORP.

WESTCO F.G. CORP.EIN 13-2681403Plan #002PY 2020

101 CORTLANDT ST - NORTH TARRYTOWN, NY 10591914-631-3800LinkedIn11-50 employeesmachinery

Prospect flagsHigh feesLow participationLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$3M

+9.2% from 2019

Total participants

-3.8% from 2019

Average account balance

$155,267

+20.7% from 2019

Annual return

10.84%

+5.18 pp from 2019

Benchmarks

See 21,449 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants<25

Cohort21,449 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$2.49M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$92K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

142.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$141K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+8.21%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$3143

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J2F2G3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$186K

$10931 / participant

Other / not subdivided$186K100.0%

% of EOY assets

6.299%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$155,267

$112,121+38.5%

$95,960+61.8%

$158,966-2.3%

Participation rate

64.7%

79.0%-14.3pp

77.1%-12.4pp

82.0%-17.3pp

Annual return

10.84%

171.16%-160.3pp

91.63%-80.8pp

302.95%-292.1pp

Employer contribution / active EE

$3,199-100.0%

$2,541-100.0%

$4,762-100.0%

Participant deferral / active EE

$7,805

$4,784+63.1%

$4,167+87.3%

$5,983+30.4%

Admin fee / account holder

$9,781

$10,135-3.5%

$6,797+43.9%

$11,250-13.1%

WESTCO F.G. CORP. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTCO F.G. CORP. PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion